Correction: Wyld Networks’ Interim Report Q2 2022: Scaling up to full commercial launch

Correction: In the original press release for the interim report January - June 2022 (published today at 08:45) the cash flow analysis for the second quarter was missing. The attached report is updated with these figures.

Wyld continue to sign strategic launch partners, build on the purchase order book, and successfully complete end-to-end testing of the satellite IoT network.

CEO Alastair Williamson:

“In Q2 Wyld’s development team finished the end-to-end testing of the satellite network. We have become the world’s first company to successfully connect a terminal integrated with Semtech’s LR-FHSS (long-range frequency hopping spread spectrum) chip directly to a low earth orbiting satellite. Wyld is now scaling up ahead of the full commercial launch later this year.

Our business development team has been continuously building a sales pipeline. Wyld Networks has now cultivated 28 alliances with launch partners including a further 8 that has been added this quarter: Constanta Industrial (Brazil), Brinja (Sweden), HartBR (Brazil), IMAE (Brazil), C.Towers, Nordic IoT company (Denmark), ATSS (Saudi Arabia), DEWA (UAE).

As we head into the full commercialization with even more impetus, gusto and excitement, we will continue signing new launch partners and convert existing ones into customers. Wyld has now moved onto the manufacturing and distribution phase of Wyld Connect units to all commercial partners.

I am comfortable in saying that Wyld’s foundations are strong and regardless of the global uncertainty, we remain confident and unaffected.”

Financial summary, Q2 2022

• Total income, SEK k
  Q2: 1,038 (915)
• Total EBIT, SEK k
  Q2: –9,864 (–9,688)
• Earnings per share, SEK
  Q2: –1.01 (–1.62)

Significant events during Q2

• Wyld Networks has signed 5 additional partnerships this quarter with: Constanta Industrial (Brazil), Brinja (Sweden), HartBR (Brazil), IMAE (Brazil) and DEWA(UAE). Wyld Networks has now formed 28 partnerships within 19 markets.
• DEWA’s (Dubai Electricity & Water Authority) space program – Space-D – has launched its first satellite: DEWA – SAT 1. This is in partnership with Wyld Networks, DEWA R&D Centre and Infra X. This will enable Wyld to deliver solutions to DEWA’s infrastructure and jointly engage with other utility companies globally.
• Wyld has successfully completed its end-to-end testing of its satellite IoT network.
• Wyld has chosen Missouri as the base for its operations in the US. In partnership with World Trade Center St. Louis and STL Partnership; operations will be held to develop and distribute satellite IoT solutions for agriculture and supply chain sectors.
• Wyld’s shares began trading on the OTCQB Venture Market in the US under the symbol “WYLDF”. Joining the OTCQB allows over-the-counter trading in the ordinary share listed on the Nasdaq First North Growth Market. This listing will increase visibility and accessibility in the US capital markets thereby providing greater liquidity and value to the companies’ shareholders.

Significant events after Q2

• Wyld receives further purchase orders of Wyld Connect of SEK 1.07 million from C.Towers in Brazil and a Nordic IoT company in the utilities sector.
• Wyld signs a breakthrough agreement with ATSS (part of the Mawarid Media & Communications Group) in Saudi Arabia, to deploy sensor to satellite connectivity for agriculture, logistics, energy and utilities.
• Wyld Networks exhibit LoRaWAN World Expo together with Eutelsat showcasing its unique satellite IoT solution generating substantial interest amongst the LoRaWAN ecosystem community.

The Interim Report is available to download at Wyld Networks’ website: www.wyldnetworks.com/investor-relations

For further information, please contact
Alastair Williamson, CEO Wyld Networks
Email: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689

About Wyld Networks AB
Wyld Networks develop and sells innovative wireless technology solutions that enables affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.

Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.

The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email ca@mangold.se).

Read more on www.wyldnetworks.com